Niche Market Exit Planning Tips
Selling a Biofeedback Equipment Service and Repair Business
It's a misconception that no one is buying biofeedback equipment service and repair businesses these days. Savvy entrepreneurs see biofeedback equipment service and repair business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
Dire economic forecasts have forced many biofeedback equipment service and repair business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Many biofeedback equipment service and repair business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the biofeedback equipment service and repair business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the biofeedback equipment service and repair business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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